Buying a home in this economy is no less than a herculean task. Apart from finding a house that one would like to invest their hard-earned money into, there are multiple other hurdles that a person needs to clear before becoming an owner. While renting a house is the most common trend, buyers are generally unable to raise enough funds for a large deposit to get a mortgage. The startup Unmortage, however, intends to shake up the scene with its service that enables one to buy five percent of a home and rent the rest.
Forging new partnerships
The startup Unmortgage has announced a new partnership with Allianz Global Investors (AllianzGI), which is a part of the Allianz Group. The new investors will create a new fund to supply money for buying 95 percent of the home, when a customer buys a 5 percent stake. AllianzGI is one of the world’s leading active investment managers with over €535 billion in assets.